Catholic Loyalty Foundation FY2020 filing

Santa Clarita, CAUnknown exempt organization EIN 26-3808384

On file with the IRScatholicloyaltyfoundation.com19197 Golden Valley Road 815 · Santa Clarita, CA

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To educate and empower the Catholic Church, ecumenical missions, and faith based organizations and initiatives by offering assistance in the development of financial empowerment solutions.

Mission: Form 990 Part I, line 1

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 3
filings with a surplus
Average deficit $333K a year · last 3 filings
Concern: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 2 voting members
Looks good: 2 of 2 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$0
Spent
$0
Net assets
$998K
By yearFY2020–FY2022
Revenue
$0
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$0
FY2021$0
FY2022$0
Expenses
$0
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$0
FY2021$735
FY2022$998K
Net assets
$998K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$998K
FY2021$998K
FY2022$0

From the FY2020 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

2 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Helps Catholic and faith-based groups develop financial empowerment solutions.

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Provided by the organization

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1 program · in their own filed words · FY2020
01

Through our Michaelangelo Legacy Project, we continued the search for to another religious organization to which our first piece of artwork, a Pieta recreation, can be granted for public display and appreciation.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$0
Ln 12
Money outPt IX
$0
Ln 25
Owns and owesPt X
$998K
net assets · Ln 32
Cash and savingsLn 1–2$3K
Total assetsLn 16$998K
LiabilitiesLn 26$0
PeoplePt VI, VII
2
listed · VII A
PaidVII A0
Voting boardVI 1a2
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Total revenueLn 12$0
Assets in detailPt X, end of year
CashLn 1$3K
SavingsLn 2$0
Cash and savings togetherLn 1–2$3K
InvestmentsLn 11–13$0
Other assetsLn 15$995K
Total assetsLn 16$998K
LiabilitiesLn 26$0
Net assetsLn 32$998K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$3K$3K
InvestmentsLn 11–13$0$0
Total assetsLn 16$998K$998K
LiabilitiesLn 26$0$0
Net assetsLn 32$998K$998K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Total functional expensesLn 25$0$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest $0$998K−$998K$0 990 PDF
FY2021 $0$735−$735$998K 990 PDF
FY2020 Viewing $0$0$0$998K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $0 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $0$0
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $658$0
I-18 Total expensesPrior year $658$0
I-19 Revenue less expensesPrior year −$658$0
Part VI · Governance 2 of 2 board members independent, 4 to look at
VI-1a Voting members of the governing body2
VI-1b Independent voting members2
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $0 across 2 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
Part IX · Statement of functional expenses $0 across 0 lines filed
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$0
Part X · Balance sheet $998,312 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $3,312$3,312
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $0$0
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $995,000$995,000
X-16 Total assetsStart of year $998,312$998,312
X-17 Accounts payable and accrued expensesStart of year $0$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $998,312$998,312
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $998,312$998,312
X-33 Total liabilities and net assetsStart of year $998,312$998,312
Part XI · Reconciliation of net assets $998,312 net assets at year end
XI-1 Total revenue$0
XI-2 Total expenses$0
XI-3 Revenue less expenses$0
XI-4 Net assets at start of year$998,312
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$998,312

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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